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Washington rounds out the top 10 with an average retirement savings of $469,987. The state’s financial health is high, too, ranking third in the nation with a score of 6.65 out of 10.
Average retirement savings, not surprisingly, rise with age. The average balance for those 45 to 52 is $179,200, rising to $256,244 for those 55 to 64 and $279,997 for those already retired.
If you have only average retirement savings, ... Morgan Hill, California. Average monthly mortgage: $8,363. Annual cost of living: $127,215. Years to draw down average savings: 4.79.
The average 401(k) balance for five million Vanguard participants was $134,128 across all age groups in 2023, ... That's why it's important to grow retirement savings as early as possible.
Here's the average 401(k) balance after 15 years of saving. The Fidelity survey looked at the average 401(k) balance of more than 24 million participants in more than 26,100 of its corporate plans ...
A separate study by Edward Jones found that the average retirement savings for people 65-74 is $426,070. ... looking for an affordable retirement is California, which placed nine cities among the ...
For many Americans, balances in an employer-sponsored 401(k) retirement plan are on the lower end. Here are the 10 states with the lowest average 401(k) balances, as well as factors that come into ...
If you assume the 401(k) is the entirety of someone’s retirement savings, a balance of $555,621 at age 65 when they retire would give them around $22,000 in annual income in the first year.
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